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FTC Releases Guide on How to Avoid Deceptive Student Loan Offers

Friday, June 27, 2008

Figuring out how to pay for college can be a highly stressful and sometimes highly confusing process. For many of you, these are the first major financial decisions you've had to make. It is a real challenge deciding which student loans make sense for you and which student lenders are a good fit. And to top it all off, we're talking big bucks when it comes to paying for college tuition, textbooks, housing, food, and more.

Unfortunately, this combination of money and first-time decision-makers can lead to deceptive marketing and scams. That's not to say that most of the organizations doing business in this space are trying to deceive you. You just may want to be on the lookout for "This is too good to be true" situations. The FTC just put out a guide that can help you avoid deceptive marketing tactics and keep your information safe. It not only provides some good tips, but also offers contact information for a number of organizations where you can get more information or file a complaint.

Don't be shy about asking questions if something doesn't make sense. And we always encourage you to do your homework when it comes to student loans. Feel free to use our Student Loan Marketplace to compare loans from our partners or to analyze student loans you've found in your own research.